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Finance and Budgets

Budgeting Principles

These principles provide an approach to budgeting that is fair and sustainable. After consulting with applicants, we know there are lots of wrong assumptions about what funders want to see in a budget. As a result, people often present budgets to us that maximise delivery costs and so-called ‘value for money,’ and minimise overheads, planning and reflection time. Download this document to find out more.

Eligible Costs

Trailblazer Fund and Catalyser Fund grants can fund a mix of delivery costs and core costs.

Delivery costs: To deliver your project

  • Music leader fees
  • Project management
  • Other members of staff working on the project (e.g., youth workers)
  • Youth voice activities (e.g., consultation, youth forum etc.)
  • Marketing
  • Planning
  • Monitoring, reflection and evaluation
  • Staff induction and training
  • Equipment such as musical instruments, hardware, and software
  • Room and venue hire
  • Food, travel and other access related costs

 

Core costs: To run your organisation 

  • Salaries (staff who aren’t working directly on the project)
  • Communications
  • Operations (rent and utilities)
  • Governance (audit, legal advice, preparation of annual accounts)
  • Income generation
  • Training
  • IT costs

Match Funding Guidance

Your project/programme budget will consist of two parts:

a) Your request to Youth Music - which is the amount of money that you are requesting from Youth Music.
 

b) Match funding - this is additional funding that you have raised to deliver your project/programme.

There are two types of match funding.

Cash match funding. This is where there is money exchange is involved. For example, a grant from another funder.
In-kind match funding. This is non-cash support that you or your partners make towards the project/programme. For example, free venue hire or volunteer support.

The amount of match funding you need to raise depends on how much you are requesting from Youth Music.

Grant requests between £2,000 and £30,000: 10% total match funding or higher (at last 5% must be cash match funding)
This means for every pound you request from Youth Music, you will have to raise at least 10p match funding, or which at least 5p will have to be cash match funding. 
If you're applying for £30,000 then you 'll need to raise match funding of at least £3,000 of which at least £1,500 will have to be cash match funding. 

Grant requests between £30,001 and £100,000: 20% total match funding or higher (at last 10% must be cash match funding)
This means for every pound you request from Youth Music, you will have to raise at least 20p match funding, of which at least 10p will have to be cash match funding. 
If you're applying for £100,000 then you 'll need to raise match funding of at least £20,000, of which at least £10,000 will have to be cash match funding. 

Grant requests between £100,001 and £300,000: 40% total match funding or higher (at last 15% must be cash match funding)
This means for every pound you request from Youth Music, you will have to raise at least 40p match funding, of which at least 15p will have to be cash match funding. 
If you're applying for £200,000 then you 'll need to raise match funding of at least £80,000, of which at least £30,000 will have to be cash match funding. 

Funding from Arts Council England or National Lottery cannot be used towards meeting the minimum match funding requirements but can be used as additional contribution.

If you get a grant, we may ask for evidence of your cash match funding.

Management accounts

Management accounts are an internal tool that you can use to plan and track your financial position. We have provided guidance about management accounts and how to use them, and we have template that you can use.